Boeing has ousted the head of the 737 Max program as the planemaker fights to repair its reputation following a terrifying cabin panel blowout.Ed Clark, who was also general manager of Boeing’s Renton plant, is leaving the business with immediate effect, according to an internal memo. His exit was first reported by the Seattle Times.The company has scrambled to reassure regulators, airlines and passengers since a brand-new 737 Max 9 jet was forced into an emergency landing last month.The dramatic incident d ...

Senator Elizabeth Warren has urged regulators to block Capital One’s $35bn takeover of Discover Financial, arguing that combining two of the US’s largest credit card companies would harm consumers and challenge financial stability.The blockbuster deal would inevitably lead to higher costs and fees for cardholders, according to the leftwing senator.Richard Fairbank, chairman and chief executive of Capital One, has claimed the planned acquisition amounts to “a singular opportunity to bring together two very s ...

Microsoft-backed OpenAI has completed a deal that values the artificial intelligence company at $80bn or more, the New York Times reported on Friday, citing multiple people with knowledge of the deal.The company would sell existing shares in a so-called tender offer led by venture firm Thrive Capital, the report said. Employees will be able to cash out their shares of the company rather than a traditional funding round, which would raise money for the business, the report added.OpenAI did not immediately re ...

Group 1: Disney's Strategic Moves - Disney has announced a $1.5 billion partnership with Epic Games to enter the video game market, aiming to create a "games and entertainment universe" for its franchises like Pixar, Marvel, and Star Wars [1][2] - Bob Iger, Disney's CEO, stated that this deal represents the company's "biggest entry ever into the world of games," highlighting significant growth opportunities [1][2] - The collaboration with Epic Games is expected to build a persistent, open, and interoperable ecosystem that connects the Disney and Fortnite communities [3] Group 2: Financial Performance - Disney reported a 49% increase in profits to $1.91 billion for the three months ending December 31, despite flat revenue of $23.5 billion [2] - The company is under pressure to cut costs and has announced a hefty dividend for shareholders, indicating a positive shift in financial performance [1][2] - Disney shares rose by 7% in after-hours trading following the earnings announcement and the news of the Epic Games deal [2] Group 3: Additional Ventures - Disney's ESPN is collaborating with Fox Corporation and Warner Bros Discovery to launch a sports-focused streaming platform, leveraging a wide range of sports rights [4]

Meta’s oversight board has found that a Facebook video wrongfully suggesting that the US president, Joe Biden, is a paedophile does not violate the company’s current rules while deeming those rules “incoherent” and too narrowly focused on AI-generated content.The board, which is funded by Meta – Facebook’s parent company – but run independently, took on the Biden video case in October in response to a user complaint about an altered seven-second video of the president.It ruled that Meta was right to leave t ...

Apple has ended the quarter with its first revenue gain in over a year, but the company still struggled to cope with a decline in global smartphone demand. The company posted $119.58bn in revenue and $2.18 in earnings per share (EPS), beating Wall Street expectations of $117.91bn in full-year revenue and $2.10 in EPS. Apple broke its four-quarter streak of declining revenue with a reported a 2% growth in sales. Shares dropped in after-hours trading.However, the news wasn’t all rosy for the iPhone maker. The ...

Meta shares soared 12% in after-hours trading following a strong fourth quarter earnings report released the day after CEO Mark Zuckerberg took a beating in a contentious Congressional hearing.The company also announced it will pay a 50 cent-per-share dividend to investors for the first time, and has authorized a $50bn share buyback program.Overall, Meta reported fourth-quarter revenue of $40.1bn, beating the predicted $39.18bn and up 25% year-over-year. The report comes as Meta, like many of its big tech p ...

A former Boeing manager says he would “absolutely not” fly on one of its 737 Max planes as the aircraft maker faces heightened scrutiny after a cabin panel blowout.The company has been fighting to reassure regulators, airlines and passengers since a brand-new 737 Max 9 jet was forced into an emergency landing last month.The dramatic incident during an Alaska Airlines flight – which prompted 171 Max 9 jets to be grounded for several weeks – has sparked the biggest safety crisis for Boeing since the crashes o ...

A group of 25 California counties have sued Elon Musk’s Tesla, claiming the electric vehicle maker mishandled hazardous waste at its facilities across the state.The lawsuit from Los Angeles, Alameda, San Joaquin, San Francisco and other counties was filed on Tuesday in California state court. It seeks civil penalties and an injunction that would require the company to properly handle its waste in the future.Tesla did not immediately respond to a request for comment.The counties accused Tesla of violating st ...

Boeing faces a “serious challenge” to win back the confidence of regulators and airlines, its CEO has said, as the planemaker faces intense scrutiny after a cabin panel blowout.Dave Calhoun acknowledged the business has “much to prove” since a brand-new 737 Max 9 jet was forced into an emergency landing earlier this month.The dramatic incident during an Alaska Airlines flight – which prompted some 171 Max 9 jets to be grounded for several weeks – has sparked the biggest safety crisis for Boeing since the cr ...